Investors didn’t show up: the government plans to change the rules for selling state-owned enterprises
31 March 18:45
The Odessa Port Plant remains one of the main targets of large-scale privatization in 2026.
This was stated by Deputy Minister of Economy Daria Marchak in an interview with Interfax-Ukraine, reports "Komersant Ukrainian".
Following the failure of the previous auction, the government plans to revise the terms of sale to make the asset more attractive to investors.
Why the previous auction failed
The previous privatization attempt took place on November 25, 2025, but no buyers were found.
The starting price for the asset was 4.49 billion hryvnias.
According to Daria Marchak, this result showed that under current conditions, investors are not ready to commit to the project.
There are several reasons:
- the asset’s complex structure;
- significant debt obligations;
- uncertainty regarding the future value of the enterprise.
Debt remains the main problem
Among the key factors deterring potential investors, the government cites the company’s debts.
In particular, the plant has outstanding financial obligations to businessman Dmytro Firtash, who controls Group DF.
That is why, according to government officials, the approach to privatization needs to be “fundamentally rethought.”
The government proposes a new auction model
The Ministry of Economy plans to propose to parliament changes to the rules for selling large-scale privatization assets.
The proposed scheme involves three stages:
- First auction – at book value or appraised value.
- Second auction – with a reduced starting price, but with increasing bids.
- Third auction – with a price reduction mechanism.
According to Daria Marchak, this model allows for determining the asset’s actual market price and finding an investor.
Why legislative changes are needed
At the start of the full-scale war, the rules for large-scale privatization were changed, and the second and third stages of the auctions were effectively halted.
That is why the government will seek support from the Verkhovna Rada of Ukraine to resume the full sale procedure.
What will happen if the law is not changed
If parliament does not support the changes, the government will seek alternative solutions.
Possible options include:
- restructuring the company’s debts;
- changing the conditions for preparing for privatization;
- other financial mechanisms to enhance investment attractiveness.
Despite the complexity of the asset, the Ministry of Economy of Ukraine hopes that an investor will still be found for OPZ by 2026.
